Return to Transcripts main page

CNN Live At Daybreak

Business Buzz

Aired October 24, 2003 - 06:53   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.


CAROL COSTELLO, CNN ANCHOR: Time for a little business buzz right now. Reebok is hoping a 7'5" basketball player will push sales here and abroad. Hmmm, who might that be?
Carrie Lee has the answer from the NASDAQ market site -- good morning.

CARRIE LEE, CNN CORRESPONDENT: Good morning, Carol.

Who else could it be but Yao Ming of the Houston Rockets? Reebok, the athletic shoe and clothing maker, signed a multi-year endorsement deal with Ming of the National Basketball Association. Financial terms have not been disclosed, but Reebok says it's going to design and sell a signature collection of footwear and apparel for the 23-year-old native of Shanghai, China.

Now, his official product line is going to be introduced at the retail level in 2004. Ming is 7'5" tall. I'm not sure what his sneaker size is. And what this really means for Reebok and the NBA is trying to expand its presence in Asia. So this is a key strategic priority for the companies, once again, Carol, coming out in the fall of 2004.

COSTELLO: Somehow I think that's a smart marketing strategy.

Carrie Lee live...

LEE: Probably a very expensive one, too.

COSTELLO: Oh, yes.

LEE: But worth it.

COSTELLO: Carrie Lee, many thanks.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com






Aired October 24, 2003 - 06:53   ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time for a little business buzz right now. Reebok is hoping a 7'5" basketball player will push sales here and abroad. Hmmm, who might that be?
Carrie Lee has the answer from the NASDAQ market site -- good morning.

CARRIE LEE, CNN CORRESPONDENT: Good morning, Carol.

Who else could it be but Yao Ming of the Houston Rockets? Reebok, the athletic shoe and clothing maker, signed a multi-year endorsement deal with Ming of the National Basketball Association. Financial terms have not been disclosed, but Reebok says it's going to design and sell a signature collection of footwear and apparel for the 23-year-old native of Shanghai, China.

Now, his official product line is going to be introduced at the retail level in 2004. Ming is 7'5" tall. I'm not sure what his sneaker size is. And what this really means for Reebok and the NBA is trying to expand its presence in Asia. So this is a key strategic priority for the companies, once again, Carol, coming out in the fall of 2004.

COSTELLO: Somehow I think that's a smart marketing strategy.

Carrie Lee live...

LEE: Probably a very expensive one, too.

COSTELLO: Oh, yes.

LEE: But worth it.

COSTELLO: Carrie Lee, many thanks.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com